Canadian Execs Endorse Prepaid as Most Popular Incentive Choice
Network branded gift cards are the favorite reward in corporate incentive programs and spending in incentives is on the rise in Canada, according to a survey of Canadian executives released this week.
Toronto-based prepaid card provider Berkeley Payment Solutions commissioned the study that polled 154 Canadian executives from marketing services organizations, incentives firms and corporations. Nearly three-quarters of them named network branded prepaid cards as being highly valued by potential reward recipients. ‘The specific rewards used in incentive programs, and the degree to which they are valued by recipients, will determine recipients’ level of engagement, and ultimately program results,’ said David Eason, CEO, Berkeley Payment Solutions. ‘And companies are realizing that one of the best and easiest ways to motivate customers, employees and partners is to give them a reward that offers flexibility and choice.
Broadly, the executives endorsed using corporate incentives to create a competitive advantage. ‘Of survey respondents who were in a position to directly gauge the broader business advantages of their incentives programs, a strong majority (86 percent) felt they gained a competitive edge over the competition as a result of the incentive programs they have implemented, the report said.